Michael Avenatti has been ordered by a California judge to surrender to his soon-to-be-ex-wife a Ferrari, monthly payments of more than $160,000, and his law firm’s stake in a private jet.
The terms of the child and spousal support agreement between Avenatti and Lisa Storie-Avenatti were spelled out in court documents filed in Orange County, California.
Avenatti was forced to pay $37,897 per month in child support and $124,398 per month in spousal support – with both payments being applied retroactively to January 1, 2018.
That means that by the time New Year’s Day rolls around, Avenatti will have owed his estranged wife a combined $2million in spousal and child support just for 2018, according to TMZ.
Avenatti gained fame as the attorney for Stormy Daniels, the porn actress who alleges she slept with President Donald Trump more than a decade ago.
As part of the settlement with his wife, he will write child support checks for $40,000 for December and January.
In order to make up for the rest of what he owes, Avenatti will have to hand over a number of assets for his wife to liquidate.
These include a 2017 Ferrari 488 GT Spider that he was leasing; five luxury wristwatches, a few of them worth at least $50,000; a sculpture by Frank Gehry; and a number of expensive pieces of art.
Avenatti will also be required to sign over to his wife his law firm’s stake in a 2016 Honda private jet.
Two years ago, a brand new Honda private jet would have cost $4.5million.
A 2017 Ferrari 488 GT Spider sells for at least $280,000.
Lisa Storie-Avenatti, the owner of a luxury clothing business, filed for divorce from her husband in December of last year. They have been married since May 2011.
The couple has a young son.
In divorce papers filed in Orange County last year, the couple lived a lavish and luxurious lifestyle full of multi-million dollar homes, private jets, and frequent trips to Cabo, the French Riviera, and Paris.
Documents showed that Michael Avenatti’s monthly expenses came to $40,000.
This included payments on payments on a Ferrari Spider and a Mercedes G Wagon.
Storie-Avenatti’s monthly expenses came to $25,000.
Avenatti has personally owed at least $1.2million in federal taxes and his law firm Eagan Avenatti once owed $2.4million in taxes.
‘We traveled extensively throughout the world and, when not flying privately, we always flew business class and stayed at five-star hotels,’ she said in one filing.
‘I had unfettered use of credit cards that were in my name. My American Express bill was historically on average of $60,000 to $70,000 per month, and was paid in full each month.’
Storie-Avenatti said the couple spent nearly $20,000 a month on groceries, another $20,000 on clothes, $12,000 on nannies, and $27,000 for vacations, gifts, and entertainment.
In court papers, Storie-Avenatti said her husband was ‘hot-tempered’ and ‘loud.’ She wrote that when he didn’t get his way, ‘he gets extremely loud and verbally aggressive.’
Last month, however, Storie-Avenatti came to her estranged husband’s defense after he was arrested by Los Angeles police for misdemeanor domestic violence.
Mareli Miniutti, an actress who claims she had been living with Avenatti since January, alleged that he grabbed her wrist and threw her out of an apartment.
She successfully obtained a restraining order against Avenatti.
Initial reports falsely indicated that the domestic dispute was between Avenatti and his estranged wife.
Storie-Avenatti then put out a statement through her lawyer saying that her estranged husband would never hit a woman.
Los Angeles county prosecutors decided against felony charges and referred the matter to city attorneys who have yet to decide whether lesser charges are warranted.
On Tuesday, Avenatti said he would not run for the White House in 2020, ending a months-long flirtation with a bid for the Democratic nomination.
Avenatti, who has been a vocal critic of the Republican Trump and has cast himself as having the fighting spirit to take him on, said in a Twitter post he had decided not to seek the presidency after consulting with his family, and ‘at their request.’
Avenatti came to national prominence as the lawyer for Daniels.
The porn actress, whose real name is Stephanie Clifford, sued Trump for defamation after he denied her assertion that she had a sexual encounter with him in 2006 and disputed her account that she was threatened in 2011 for agreeing to a press interview about the alleged encounter.
That lawsuit was dismissed by a federal judge in October. Daniels has filed a separate lawsuit over a $130,000 hush-money agreement stemming from the alleged encounter.
Avenatti said in his statement that he would continue to represent Daniels.